I have done a lot of very successful deals in my career, but I have never been able to process millions of data points at this speed. We processed $73.7 billion in annual TIV (total insurable value), multiple years of claims data, projected reinsurance costs and forward modeled loss ratios in 48 hours,” Slide Founder and CEO Bruce Lucas said in a release. (Credit: Songquan Deng/Shutterstock) “I have done a lot of very successful deals in my career, but I have never been able to process millions of data points at this speed. We processed $73.7 billion in annual TIV (total insurable value), multiple years of claims data, projected reinsurance costs and forward modeled loss ratios in 48 hours,” Slide Founder and CEO Bruce Lucas said in a release. (Credit: Songquan Deng/Shutterstock)

Insurtech Slide Insurance Company is acquiring $400 million in premiums from St. Johns Insurance Company as part of the latter’s insolvency and subsequent liquidation after nearly 20 years of business in Florida and South Carolina, according to the acquiring firm. The deal will provide uninterrupted coverage to around 150,000 policyholders and voluntary appointments for more than 2,700 agents in Florida and South Carolina.

The policies transitioned to Slide Insurance shortly after midnight on March 1, 2022, according to the Florida Department of Financial Services. The department noted there will be no gaps in coverage and policyholders’ coverage and premium policy will remain unchanged after the transition.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

More from this author

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.